Has anyone used XOOM before?

[alfredo]

Just did my first Xoom transaction today, and took about an hour from intiating the transfer on the website until i got the E-mail that the money was ready for pickup($3000pesos(US$603.33)) I had a coupon code(speedmay) that resulted in zero fees so used a debit card that earns airline miles.
Pickup at Libertad took about 5 minutes no questions were asked of me.

Today's ambito rate was 5.18.
http://www.ambito.com/economia/mercados/dolar.asp
You got less than 5.

 

[earlyretirement]

Today's ambito rate was 5.18.
http://www.ambito.com/economia/mercados/dolar.asp
You got less than 5.

Yeah but most casa de cambios aren't paying anywhere near the 5.18. I got 5.02 today at the place I have used for years. I doubt many exchange houses are giving that rate. But if I'm wrong let me know and I'll gladly use them.

 

[Sleuth]

Today's ambito rate was 5.18.
http://www.ambito.com/economia/mercados/dolar.asp
You got less than 5.

People do not have dollars to change though, so Xoom is giving a much better rate than withdrawing from the ATM. The ambito rate does not apply.

 

[demokritos]

My first transfer went through relatively painlessly (for US$2000 to More MT) 2 weeks ago, I just received a call from their compliance team to verify my identity, and I had to go to the Libertad location, rather than the (non-existent) Palermo locations for pickup via More MT. However, the second transfer (for US$2500) has been held up for a week - after 5 calls to Xoom customer service, I was informed that More MT had requested more documentation, and Xoom's team was apparently too incompetent to tell me that by email, or by calling me. They also neglected to provide details on exactly what documentation was needed, nor how I was to get it to More MT. Xoom advised that I cancel the transfer and try again, which I am doing now, but it seems totally pointless if my transfer gets caught in this grey area again. All in all, a frustrating experience, and I don't recommend it if you have another way of getting pesos above the official USD-ARS rate.

 

[Its_not_me]

I am n the same boat with Xoom. First two went through fine. After that nada. Total morons working there reading a script saying I need more documents but they can't tell me what documents.

 

[henryb]

I believe there is a limit of USD 2,500 per month that you can transfer in that is imposed by the government. This applies to all types of transfers (Moneygram, Western Union, Xoom). They just follow the regulations.

 

[sesamosinsal]

Rate is at 5.3415 as of 11:15 a.m.

 

[Sleuth]

I believe there is a limit of USD 2,500 per month that you can transfer in that is imposed by the government. This applies to all types of transfers (Moneygram, Western Union, Xoom). They just follow the regulations.

The limit is U$S 6000 every 30 days.

 

[sesamosinsal]

People do not have dollars to change though, so Xoom is giving a much better rate than withdrawing from the ATM. The ambito rate does not apply.

I'm certain the dollars that we send through this service never arrive to Argentina. The transfer happens too quickly. Thus, I wonder how many dollars they are transferring on average since they started dealing with this rate. By us not using ATMs (our dollars transferring to the BCRA), operations through Xoom.com are effectively an outflow of capital. I wonder how long it will last...

 

[henryb]

The limit is U$S 6000 every 30 days.

6,000 USD is a limit is imposed by Xoom for people with verified checking account
Lower 2,500 limit is imposed by the Argentinean government. May be it is even lower now.

... operations through Xoom.com are effectively an outflow of capital. I wonder how long it will last...

So, if you bring dollars with you and change them to pesos with an intention to spend them here, it is your definition of outflow of capital, right?